2.2. The Association has the right to perform economic activity in the form of complementary activity, which pertains to the maintenance and utilisation of its own property, as well as to perform other economic activity to achieve the purposes of the Association. The income of the Association may be utilised only for the achievement of the purposes specified in the articles of association. Profit obtained from economic activity of the Association may not be divided among the members of the Association.

Chapter 3. Term of Activities of the Association

3.1. The Association is established for indefinite time period.

Chapter 4. Members of the Association

4.1. Any capable natural person who recognizes and respects the purposes of the Association as well as who complies with requirements of the articles of association may enter the Association by submitting written application of the definite form and paying in an entrance fee as well as an annual membership fee.

4.2. Members of the Association undertakes not to pursue the following commercial activities in particular:

4.2.1. trading and selling of Porsche vehicles;

4.2.2. trading and selling of Porsche (vehicle) accessories.

4.3. Members of the Association are prohibited from using the Association for the purpose of personal benefits or commercial advantage.

Chapter 5. Trial Members of the Association

5.1. Any capable natural person who are planning to purchase a Porsche vehicle but do not yet own one may enter the Association as the trial member.

5.2. The trial member of the Association may be elected for the period no longer than 6 (six) month.

5.3. The trial member of the Association shall be elected by the board of directors.

5.4. The trial member of the Association has the right to participate in member`s meetings and board meetings without the right to vote.

5.5. The trial member of the Association has no rights to elect and to be elected in the administrative institutions of the Association.

5.6. The trial member has no duty to pay an annual membership fee.

Chapter 6. Honorary Members of the Association

6.1. A natural person or the representative of legal person or partnership having legal capacity who supported interests and ambition of the Association morally and/or materially may enter the Association as the honorary member.

6.2. The honorary members shall be elected

by the board of directors.

6.3. The honorary member of the Association has the right to participate in member`s meetings and board meetings with the expression rights without the right to vote.

6.4. The honorary member of the Association has no rights to elect and to be elected in the administrative institutions of the Association.

6.5. The honorary member has no duty to pay an annual membership fee.

6.6. The honorary members have the duty to follow the articles of the Association and to execute the decisions of the member`s meeting and board of directors.

Chapter 7. Admission of Members into the Association, Withdrawal and Exclusion

7.1. Any capable natural person who owns a Porsche vehicle or has permanent access to a Porsche vehicle (company car, lease car, on finance), may enter the Association by submitting written application of the definite form. The board of directors of the Association shall define the form of the application and the list of the documents to be attached to it.

7.2. The founders of Association become members of it since the moment of the establishment of Association

7.3. The board of directors shall take the decision on admittance of a member in the Association. The board of directors shall consider the request of the applicant during the closest meeting, however no longer than during three month from the receipt of the requested documents. The applicant him/herself shall be invited to the meeting of the board of directors where the request of the applicant is considered and the floor shall be given to him/her for expression of the opinion. Absence of the applicant is not a challenge for the board of directors for taking the decision. The board of directors shall announce the substantiated decision in written form to the applicant within one week from its taking.

7.4. The applicant may appeal the negative decision in written form against the member`s meeting. If the member`s meeting also rejects the request of the applicant, the applicant is not admitted as a member of the Association and he/she may submit the repeated application no earlier than after expiration of one year period.

7.5. The member may leave the Association in any time informing the board of directors in written from.

7.6. The member may be excluded from the Association by the decision of the board of directors if:

7.6.1. the member more than 3 (three) months has not paid membership fee;

7.6.2. the member does not execute the decisions of the member`s meeting and board of directors;

7.6.3. the member does not execute his/her duties and undertaken liabilities;

7.6.4. the member is carrying out other activities that contradict to the specified in these articles.

7.7. The board of directors shall consider the issue on exclusion of a member from the Association during the closest meeting inviting the excluded member and giving the floor for expression of the opinion. Absence of the excluded member is not a challenge for the board of directors for taking decision. The board of directors shall announce in written form the decision on exclusion of the member from the Association and substantiation for this decision to the excluded member within 5 days from its taking.

Chapter 8. The Rights and Duties of Members

8.1. The members of the Association have the following rights:

8.1.1. to participate in the administration of the Association,

8.1.2. to receive information on the activities of the Association, including to get acquainted with the minutes, decisions and instructions of all the institutions of the Association,

8.1.3. to participate in all events organized by the Association, to submit suggestions on the activities of the Association and their improvement, to defend his/her opinion.

8.2. The members of the Association have the following duties:

8.2.1. to follow the articles of the Association and to execute the decisions of the member`s meeting and board of directors;

8.2.2. regularly, but not less than once per year to participate in member`s meetings;

8.2.3. to pay regularly the membership fee before the deadline of 10th date of the current month;

8.2.4. to support with his/her active collaboration the carrying out of the purposes and tasks of the Association.

8.3. The liabilities of the members may be specified by the decision of the member`s meeting or board of directors. Defining the liabilities of a member that differs from the liabilities of other members the agreement of this member shall be requested.

8.4. The member of the Association can be expelled by the board of directors if he/she do not fulfil his/her obligations defined by the Articles of Association.

Chapter 9. Divisions of the Association

9.1. Territorial and other units of the Association may be established by the decision of the member`s meeting;

9.2. The Regulation of the unit shall regulate the activities, liabilities and duties of the unit, as well as relations with the Association and it shall be adopted by the member`s meeting of the Association.

Chapter 10. Convening of the Members’ Meeting and Taking of Decisions

10.1. The members’ meeting is the superior decision-making body of the Association.

10.2. All the members of the Association shall be authorized to participate in the members’ meeting. The members may participate only in person in the member`s meeting.

10.3. The regular member`s meeting shall be convened once a year – no later than until 31 March.

10.4. The extraordinary member`s meeting may be convened upon the initiative of the board of directors or if it is requested in written form by no less than one tenth of the members of the Association indicating the reason for convocation.

10.5. The member`s meeting shall be convened sending written invitation to each member no later two weeks before the meeting.

10.6. The member`s meeting has decision-making powers if more than a half of the members is participating.

10.7. If the member`s meeting has not decision-making powers due to the lack of quorum, the repeated meeting shall be convened during three weeks that may take decisions notwithstanding the number of the present members, providing that at least two members participate in it.

10.8. The decision of the member`s meeting is taken if more than a half of the present members have voted for it. The decision on the amendments to the articles and termination or continuation of the activities of the Association is taken if more than two thirds of the present members have voted for it.

10.9. All the documents related to convening of members meeting and decision making, the members board can deliver by e-mails to the e-mail addresses by its members

Chapter 11. Executive Institution

11.1. The executive body of the Association is the board of directors which consist of five board members.

11.2. Person who:

1) work for another car brand or a company that provides car accessories, or

2) is member of the board in another car brand club,

may not be a member of the board of directors.

11.3. The member of the board of directors shall be recalled if he/she breaches the clause 11.2 of the articles of the Association.

11.4. The members of the board of directors shall elect from among them the chairman of the board of directors who shall organise the work of the board of directors.

11.5. The board of directors is authorized to resolve all the issues that are not beyond the exclusive competence of the member`s meeting.

11.6. The members of the board of directors are entitled to represent the Association individually.

11.7. The members of the board of directors shall be elected for a period no longer than four years.

11.8. The members of the board of directors execute their duties without remuneration.

Chapter 12. Institution of the audit of business and financial operations

12.1. The auditor who is elected by the member`s meeting for four year period shall conduct the financial and economic control of the Association.

12.2.The auditor of the Association may not be a member of the board of directors.

12.3. The auditor:

12.3.1. shall perform the audit of the property and financial resources of the Association;

12.3.2. shall provide opinion on the budget and annual report of the Association;

12.3.3. shall consider the work of the accounting and documentation of the Association;

12.3.4. shall give recommendations on the improvement of the financial and economic activities of the Association.

12.4.The auditor shall perform the audit in the terms defined by the member`s meeting, however no rarer than once a year.

12.5.The member`s meeting shall approve the annual report of the Association only after receipt of the auditor’s opinion.

Chapter 13. Funds of the Association

13.1.The funds of the Association necessary to achieve the aims of the Association shall consist of the following:

13.1.1.entrance fees and membership fees;

13.1.2.income from business activities which are not prohibited by the law, int.al., profits from events and activities organized by the Association, sales of promotional Porsche club items (in accordance with the Licence Agreement with Porsche AG);

13.1.3.donations and gifts of natural persons and legal entities;

13.1.4.any other income from financial resources which are not prohibited by the law or other legal acts.

13.2.Cooperation with sponsors that are in direct competition with Porsche and its partners is not permitted.

Chapter 14. Membership Fee

The amount of membership fee is defined by members in the member`s meeting.